Guideline Value for SUBBARAYAN CHETTY 7TH STREET

Subbarayan Chetty 7th Street guideline value

The current guideline value of Subbarayan Chetty 7th Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Subbarayan Chetty 7th Street has changed

The guideline value for Subbarayan Chetty 7th Street has undergone several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 309% rise. However, this value decreased to Rs 3,015 per sq.ft in 2017, representing a decline of 33%. The value then saw a substantial increase to Rs 4,500 per sq.ft in 2023, followed by a further rise to Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 345%. The revisions from 2003 and 2002 do not have any figures recorded for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with guideline values for 2024 ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, indicating that Subbarayan Chetty 7th Street's current value is below this median.

• Subbarayan Chetty 7th Lane: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 8th Street: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 6th Street: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 9th Street: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty 6th Lane: Rs 4,900 per sq.ft (2024)
• Subbarayan Chetty Main Road: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Subbarayan Chetty 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Subbarayan Chetty 7th Street?

The Sub Registrar Office that covers Subbarayan Chetty 7th Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Purasaivakkam

The guideline value is an essential factor during property registration in Purasaivakkam. It determines the minimum value at which a property can be registered, and it is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the market standards set by the Registration Department. This helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Subbarayan Chetty 7th Street?

The current guideline value of Subbarayan Chetty 7th Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting at Rs 1,100 per sq.ft in 2007, increasing to Rs 4,500 in 2012, dropping to Rs 3,015 in 2017, rising to Rs 4,500 in 2023, and finally reaching Rs 4,900 in 2024.

What is the stamp duty rate for property transactions in Subbarayan Chetty 7th Street?

The stamp duty rate for property transactions in Subbarayan Chetty 7th Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office that covers Subbarayan Chetty 7th Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Subbarayan Chetty 7th Street?

Subbarayan Chetty 7th Street is classified as Residential Class III Type - II, indicating its designation for residential purposes.